Development Bank, DLM Capital Gets Approval to Acquire Links Microfinance Bank

Nume Ekeghe

Development Investment Bank, DLM Capital, has received approval of the Central Bank of Nigeria (CBN) for its acquisition of Links Microfinance Bank.

Group CEO/MD, DLM Capital Group, Sonnie B. Ayere in a statement noted that this approval would further set the Group’s much awaited Digital Banking entrance and launch.

 He said: “We sincerely thank the SEC and CBN for consent and final approval respectively of our MFB acquisition. This will help to position us more as a full-fledged financial services institution, which will develop and disseminate various financial products and services that will reach millions of Nigerians who are underserved. We are looking forward to working with all stakeholders, including the Central Bank of Nigeria, and to expand financial inclusion to meet the ever-evolving needs of the average Nigerian.”

MD/CEO, Links MFB, Funsho Idowu also said the bank is positioned to carve a niche for itself in the market space, having just joined the unique group of digital banks to create loans, investment opportunities, support job creation and empower MSMEs through unhindered access to its financial services, as clearly spelt out in the bank’s mission statement. “This deal, together with our NDIC insurance, will demonstrate to our customers that they can trust us with their financial needs,” he added.